Latest Release:
Unemployment Release (May 2023)
May 19, 2023 – The unemployment rate in Silicon Valley decreased month-to-month to 2.8% in April for the first time in 2023, following a slight increase from mid-February to mid-March, according to analysis by Joint Venture Silicon Valley’s Institute for Regional Studies. The unemployment rate in the region is at its lowest since December of 2022, when it sat at 2.3%. Overall employment in the region decreased by more than 16,300 workers, while the number of unemployed persons decreased by more than 4,000. “The unemployment rate in Silicon Valley has declined for the first time since late last year, stopping the steady increases month-to-month that were experienced over the first quarter of 2023,” said Ryan Young, Research Manager for BW Research, and an affiliated researcher at the Institute.